♪ imus in the morning >> incredible. the president tells wall street to be worried. we've never seen anything like this before. good morning, everyone. it sounded like president obama wanted a market selloff. speaking about borrowing more money, he said this time wall street should be genuinely concerned because he's not gotten the money yet. today the pundits are saying he wants a market selloff, incredible, but it's not happening. the dow may be slightly lower at the opening bell today. now, we have a white house tours moment. world war ii vets let into the memorial today. senate democrats will vote to

keep a war memorial shutdown going. last one msnbc on the air tries to get on the health insurance exchanges. they love obamacare, but just couldn't get in. "varney & company" is about to begin. so we could be a better, safer energy company. i can tell you - safety is at the heart of everything we do. we've added cutting-edge technology, like a new deepwater well cap and a state-of-the-art monitoring center, whe experts watch over all drilling activity twenty-four-seven. and we're sharing what we've learned, so we can all produce energy more safely. our commitment hasnever bee. (announcer) scottrade knows our and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help.

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>> can you believe this? president obama making an unprecedented move yesterday, warning wall street of the dire consequences the debt ceiling debate could have on the markets. you rarely, if ever, hear this kind of thing from a sitting president. by the way, the pundits are pouncing on it. charles krauthammer says he thinks president obama wants the markets to crash. listen to this. >> i think what he's trying to do is to begin to scare the markets. they will get scared enough in two weeks because he knows that's the threat. stuart: okay. the markets not getting the message. check out dow futures this morning. it is a down-trend, it's certainly not a big selloff.

if the president wanted a meltdown, he's not getting it at the opening bell this morning. there's a lot more going on besides the goings on in d.c. in 30 seconds, the other headlines, world war ii veterans denied access to their memorial in d.c. didn't matter, they went through the barricades. they will be allowed to visit today. senate democrats voted to ep coo the memorial closed. and one of the sharpest critics, uses the word catastrophic. dan will be here at 10:15. if you want to call them glitches. call them glitches. but they continue for the obamacare exchanges. what does it mean for you? i'll tell you, long wait times, unresponsive websites. do you have the time or the patience for this kind of thing? a glitch lasts an hour or two, we may be looking at system failure here. we've got an update for you. which guests-- let's do sports, shall we? which game was more

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>> i think that's very good music and good video. too. we've got the video of the shrimp on the treadmill because john stossel found more outrageous examples of wasteful spending. john is going to be here shortly. believe me, there's no end to the government lunacy. and here is larry levin joining us from chicago. he warned, be worried, he said, be concerned. what do you make of that? >> well, i guess for one, i don't normally agree with our

president, but i agree with him in this case. and he and our congress are playing chicken and unfortunately, we're going to feel it if neither give if or compromise. we get past this debt ceiling, i think it's bad for the market. most of the traders agree with me. most traders don't agree with our president very often, certainly not lightly, but in that case, the markets are in a little bit of trouble. >> we're off and running. thanks, larry. we're off and running. didn't we open sharply lower? we're off 17 points in the have early going. expecting a moderate loss as we move into the trading session, but i want to stay on this issue hereof the president rng with a wall street. liz, i've never seen anything like that before. i've never seen a president address wall street and say, hey, you, be worried if i don't get more money to borrow? >> yeah, scare tactics, and

list listen, this isn't is issue of can't pay, the government is fighting over paying. wall street has priced in that congress has worked very hard to be irresponsible and reckless and no president wants a default on their watch. the market has gone up the majority of the 17 times we've had a government shutdown and this is now about the debt ceiling fight and-- >> he was referring to that. >> s&p and moody upgraded over the summer. will we go into selected default? the big story line here, too, stuart, bond funds are still allowed to buy bonds, according to their bylaws if there are two down grades. we have some time here, it's not good that the congress brought us to this brink. stuart: bring in jeffrey eckles, from harvard, welcome back, professor. i've got to say i can't remember a sitting president issuing a warning to wall street and it seemed to me as if the president was trying to get some leverage, saying watch

out, we're going to get a selloff here. and that's going to happen unless you guys, my political opponents shape up and give me the borrowed money that i want. that's the way i'm reading it, how about you? >> no, i don't read it that way. first off on regular government shutdowns, the statistics i've seen, when the stock market goes down. but a risk on the default on the national debt is much worse. the president doesn't have any control over it. if that happens, there's going to be a huge crash in the markets and there'll probably be a seizing up of world financial markets and back in the global finance crisis. not only that, even if they reverse it, when too much damage is done, we will never recover, we in the united states will never recover our complete, full credibility that the u.s. treasury securities are completely safe. we've already been downgraded last time the threatened shutdown, from triple-a to

double-a. we'll pay higher rates for years even if they fix it. the markets are going to go down if the republicans don't cave. the only question, is it going to happen before october 17th or after october 17th. stuart: that's interesting. the markets go down if the republicans don't cave. is it possible that the president could be pressured into doing some negotiating here? >> i don't see how. as the president-- >> why not? wait a second. he's the ceo of the united states of america, it is his job to organize the nation's finances and he cannot negotiate -- he cannot negotiate whatsoever, he can't do this, no negotiate, and the market goes down if those wicked republicans don't change, come on. >> nobody can negotiate on paying our obligations that we've already legally incurred. the idea that as the president says, that faction within one party, within one branch of congress, which is one branch of the government, it's got, you know, taking the pin off

the hand grenade and saying i'm going to blow us all up, unless you give us what we want. it's an irrelevant thing, which is obamacare, we can't run a democracy that way, anybody could say i'm going to blow us up if you don't give me the pork barrel. i think even the republicans know the president not going to give up on obamacare in order to pay our bills. stuart: previous presidents in the same situation have negotiated. they've made some kind of concession to their political opponents to get a debt limit raise. hold on a second, professor, i know we can go on about this forever, but i want to get back to the market for a second. nicole, come in, please. it looks to me like the market is ignoring a presidential warning. we're down what, 30-odd points? >> this market is down about 35 points right now, in a wait and see mode. any headlines out of washington could be a market-moving event. in the meantime, they listen to president obama and they are right there. liz macdonald is right, a scare

tactic. one trader came to me and said he's dividing the country. they know ultimately it's about the october 17th date, our credit rating as a country. the economic activity that may slow, will it turn into recession. those are the things they're focusing on. they're not so-- president obama. >> nicole, right here, quickly bank of america, merrill lynch said every time there's been a government shutdown, 10 out of 17 times since 1977 the market has been up a month later. the key here again is the debt ceiling crisis and whether or not this congress and this white house will bring us to that brink. stuart: look, we've had the presidential warning, professor frankel agrees with the warning, we've not seen a down side move of of any significance on the market thus far this morning. i want to move fast to individual stocks which i believe are moving. first one i really want to watch is tesla. that stock took a big hit yesterday because one of its cars caught fire near seattle. the fire started in the car's battery pack apparently.

it was down big on that news yesterday. nicole, where does it open this morning? >> to the down side. yesterday, at that video went viral. it took over this country. and the stock moved to the down side nearly 10% and recouped some of the losses and we're down 6% at the end of the day. today, down 2.3%, tesla says that the car hit a metal type object, that the fire was only in the front of the car, it doesn't actually enter the interior of the car, they're doing a lot of damage control. i think they would have rather if it didn't go on fire at all. stuart: you could definitely say that. nicole: you don't want this kind of video out for your tesla. stuart: it's one fire after the stock has gone straight up, unbelievable. do you think people might be looking for an excuse to sell this thing liz: yeah, it's up 400% this year alone. deutche bank put out a note

saying the first fire in 83 million miles of these cars driven. this is an isolated incident. the driver was protected. so the question, is the stock overvalued? that's the line about tesla. stuart: and approached 200 and backed up big time. all right. thanks, liz. two other stocks we're reviewing, angie's list is cutting membership prices. look at the stock down 13%. angie was on this program recently. they've got a big new advertising campaign and now they're cutting prices, down they go. united technologies, it's a dow component. they make jet engines and helicopters for the military. says 5,000 jobs could be furloughed because of the shutdown. that stock has hardly changed, 104.66, down 30 cents. that's all we've got. more potential shutdown fallout. the national retail federation warns that this shutdown could cut into christmas holiday shopping. jeffrey frankel from harvard still with us. do you buy that, professor,

that let's say that the shutdown lasts for two weeks, do you think that's really going to stop people going out there and buying stuff for the holidays? >> well, two weeks would definitely have an effect. i think we've already seen from the quest and other, you know, government layoffs to some, some reduction, and already lost a percentage of economic growth this year and we could lose more. it's an interesting question, whether if the government shutdown continues, besides inconveniencing a lot of people and especially, you know, government employees, needless to say, whether that could impact gdp. but the debt ceiling is already overriding that. i mean, given that the deadline is coming up on october 17th, and that that is the ultimate, ultimate clip, everyone agrees that the risk of default to u.s. obligation. i just don't like to see the president of the united states using the deadline of the debt to gain leverage over his political opponents and totally refusing to--

>> it's a fact of life, it's a fact of life. the fact that he referred to it in the course of his speech is nothing. it's a fact of life. stuart: other presidents negotiated in the past and shifts. >> this has never happened. stuart: they have made a shift in policy to accommodate their opponents to make an agreement, they have consistently. >> on on the issue of whether the u.s. is going to pay the legal obligations that-- >> on the debt ceiling they have negotiated. professor, i know you're from harvard, but i think you're wrong. dare i say it? i think you're wrong on this one. i'm afraid i'm out of time and i'm sure we're going to talk about this later. let's move on, today is the third day of open enrollment for obamacare, the second day not much difference. some medial outlets claim it's from high demand. and jo ling has been doing this every day for us. you concentrated on new york state, just one state.

>> yes. stuart: tell me how far did you get with new york state, applying for insurance, how did it go? >> new york state has its own separate website, it's not part of the federal 36 states on the federal site. it worked better today. every single day it's getting better, but a couple of things you need to think about as we look ahead to the next couple of weeks. 60 more days until the end of the year for people to enroll and 15% of the uninsured are in california, but you know how many people they've been able to enroll so far? only 7700, thereabouts. stuart: that's in california. >> a very small number in california so a lot of websites are having better luck for account creation and getting closer to the exchanges, but i see a lot of timeouts, a lot of errors still and they're trying to figure it out. if you take a look at what the dhs, health and human services say about it, high traffic is a good thing and they're not putting a number on how many people have enrolled in the websites. stuart: prefer to new york, did you get to the point where you

could buy insurance coverage? i got to the point where i could see some of the options. stuart: that's it. >> that's where i am now. a lot further-- >> how long did it take you to go et to the point. >> if you think how long i've been trying, three days and i haven't gotten there yet. it's an interesting way to see exactly what people are facing. stuart: how many of our viewers have three days, that kind of time. >> certainly, yeah. stuart: hold on a second. i know what you want to saying. >> it might be easier to get a government-issued cell phone than-- >> oh, sarcasm. you're coming back tomorrow with another day's effort. >> this is good, this is what real people are looking at. stuart: real people. >> the options and we're right there with them. stuart: real people, boots on the ground. you're it. thank you. >> heels. stuart: and remember this, your tax dollars spent on shrimp on a treadmill. it does not end there. john stossel is next, three more outrageous examples of what everybody thinks is wasteful spending.

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>> hardly the huge selloff the president was warning about. down 63. check out the price of gold. where are we? 1308 is the word. down 12 bucks this morning. stocks we're watching in particular. tenet health care, it's the number three for-profit hospital chain. up 5%. today is the third day of the government shutdown and john stossel says, well, shut it undo. nancy pelosi says the cupboard is bare, nothing can be cut.

john stossel checked. >> nancy's cupboard, this is empty? no, it's filled with stuff, lots of money and things we don't need. stuart: he's good, isn't he? . he joins us now and he's got three more examples of things that can be cut. number one, john, pig excrement in china? >> it's a study we funded to examine it in china. stuart: we funded that? >> we funded that. stuart: how much? $140,000. stuart: next one? i'm told it's aliens can help us reverse climate change. >> $100,000 for a video about climate change, aliens save the planet. stuart: we paid that. >> we paid for that. stuart: last one i can't resist, a comedy tour in india? >> make chai, not war. this is small stuff, we could lose departments, education, 100 billion. labor, commerce, labor happens without a department, department get in the way.

federal flood insurance, the fcc the agriculture department. they interfere with life more than they help. stuart: but, it's a tough row to hoe. when you say get rid of the education department. politically a tough thing to do, but if you say get rid of a comedy tour in india, isn't that doable? or maybe not. >> this is part of foreign aid, we're making friends, we're showing that-- >> make chai, not war? >> every single thing they do has some justification that convinced somebody to appropriate the money. stuart: no, the money was spent in a congressman's district and they voted for it. surely, come on, john. >> but somebody could defend it and the republicans won't cut federal flood insurance, that's an outrage. stuart: is that a huge government expense? i believe it is or a moral-- >> it wasn't supposed to lose any money because they could price it properly, but it's already $18 billion in the hole. if you get a big disaster, it could be $100 billion in the

hole. stuart: you object to paying for somebody to build a home in a flood-prone area that's been hit before? >> you should object for paying for my home because i collected twice. i won't do it again, but, yeah, it subsidizes those of us who build on the edges of oceans. stuart: you're admitting to something on this channel? >> i admit to have been a disgusting feeder off the state. stuart: i'm not sure i can promote your show this evening, but i have to. and at 9:00 tonight, you can see more of this if you're not careful. 9 p.m. eastern on the fox business network. thanks very much, john. they were three terrific examples of waste, you're right. big government, obamacare exchanges, despite your and our best efforts, you can't get in. certainly not all of you. just like visiting the dmv, isn't it? my take is next. ♪ ♪ keep on knocking, but you can't come in♪ ♪ come back tomorrow night and

try again♪

>> i was watching another news channel yesterday. they're not really a news, they're not in the news business, they're propagandaists for the left, that's another story of a huge

supporter of obamacare. i had to laugh. they tried to sign up on the health care exchange, they had to give up, couldn't get through. my take, the anchor is on the air at the computer trying to sign up put in her personal information and can't get further and keeps getting an error message or that deaded sign, the system is down. then, she tries to phone tries, no luck, on hold over 30 minutes, she hangs up in exasperation, they abandoned their attempt to sign on and sign up. and this is how it is for everybody else. this is what it's like when you and i interface with big government. forget the costs, the taxes, the subsidies, this is boots on the ground experience of obamacare. face to face. do you have the time much less the patience to deal with this massive bureaucracy? you have to have insurance if you don't get it from your employer, you've got to sign up. i ran into a hold friend who

runs a successful business. his health care insurer told him to go to the exchanges. do you think he has the time to slog through the failing system. he wants to know what happened to the if you like it, you can keep it pledge? do you think he's a tad upset? here is what it comes to, molls of people are going to experience it government firsthand. we have a president all government all the time and now we get to see what it's like. we're not pushed into a sleek, high-tech system, oh, no, we're pitched into chaos. mere glitches or snags? nonsense, you can see the frustration level rising among the people at the other channel and they're the ones that love obamacare. when you sit down the a the computer and try to sign up on the exchanges, think of it as a visit to the motor vehicle department. only worse. five tech stocks with more than a 10%...

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you really love, what would you do?" ♪

[ woman ] i'd be a writer. [ man ] i'd be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] i'd be an architect. what if i told you someone could pay you and what if that person were you? ♪ when you think about it, isn't that what retirement should be, paying ourselves to do what we love? ♪ one welcome to the second hour of "varney and company". this you want to melt down to get more leverage with his opponent? good question. a total failure of political leadership so says star columnist dan henninger and he is here. world war ii vet will get into the memorial today but their exclusion may have heard the president. we have a report on that. new jersey as blue as it gets,

can a conservative republican get elected there? conservative republican candidate is here. somebody in this studio is going to strap on a head set and use brain waves to control the toy helicopter. do not laugh. this has replications. don't laug . don't laugh. a debt crisis could lead to a market meltdown. we are not seeing a meltdown, we are dealing unmoved the points the charles payne is here. that is an unprecedented statement, he is looking for leverage to be up his opponents. charles: no doubt he is looking for leverage. we have this unholy alliance, washington and wall street. it has always been there at the expense of the american public. i wrote about it this morning. the comedy and the badger. a lot of people don't realize

the coyotes and badgers hunt together using their respective skills, the coyote has the speed and the vatican's said a cray and a wonderful relationship. who plays on this case? it is always the american public. fifth anniversary of t.a.r.p. who is doing better? not the people watching the show but the same wall street executives -- stuart: should any president to threaten wall street? charles: no president should root for the market to go down. that is the most despicable part. stuart: did the president want the market to get some leverage. we will discuss that later. healthcare is a big winner. nicole: they are the no. 3 in

the for profit hospital chain. they compete against each peer holdings and community health and what they are doing different is trying to experiment with a quorum of more of obamacare and have awaited a tie everything together and the providers pay and how well it cares for the patients it gets put together and they are willing to try and do this and the stock is up 5% so we will s. trying to roll with the punches. don: stuart: 5% higher. we should sound the trumpets because we have the tech legend with us today. the trumpets came in nicely. wait for it, the author of the new book finding the next steve jobs, the inventor of the atari video game system and steve jobs's first boss and he knows about what it takes to run a

tech company. welcome to the program. i forgot to mention you came out with chuck e. cheese. you got that yet? >> kids love me, parents hate me. stuart: very true. you are a tech legend. apply your knowledge to microsoft. they are looking for new leadership. who should run microsoft? what talent should this person have or what experience should this person have? >> the most important thing is the person needs to say yes, needs to start 10,000 projects and reinvent the future. microsoft has so much built in power in terms of the marketplace and software but they have not been good at figuring out the future. they need to figure out the

future, try a lot of different things. stuart: you think that would turn microsoft around which they desperately need? i am with you all the way. i don't see anybody on the horizon with the stature to take on microsoft. i don't see them out there. i wanted to talk to you about the next big thing. you are indeed a legend in technology. what is the next big thing? >> personal robotics will be important. the smart house. there is so much that needs to happen. basically your alarm clock needs to talk to your toothbrush needs to talk to your coffeemaker through a secure network. of the when you really want that? >> i really do. stuart: do you really want to bring that on us? >> i do. what it does is all of a sudden

your life becomes more seamless. stuart: seamless? you are trying to talk me into a smart house where all the gadgetry talks to reach other and i seamlessly go through my day, makes the coffee, brushes my teeth and the rest of the. you think i really want that? >> i think you will because why should you ever have to reach out and turn lights on or off? why should you need to -- stuart: i will tell you why. if i could just click the power button i know it is going to go on but if i rely on some computer system to do it for me what happens when the lights don't go along? who is going to fix the thing? >> whenever things don't work, it seems like a bad idea. do we really want to not have cars because they break down once in awhile? stuart: you got me on that one.

you are the father of the modern video game. you take full responsibility for grand theft auto v. >> no. i take responsibility for creating a powerful metric of entertainment. the video tape recorder takes responsibility for porn? sort of. when you have power there is power to do good and power to do evil. that is the reality. stuart: do you remember steve jobs? they remember him well? you employed him way back, 35 years ago. >> we had this mentor relationship through probably within five years of the end of his life. and we would talk about everything from philosophy to business to creativity. and he was passionate about creativity. stuart: when you remember him

from way back when. >> 19 years old. stuart: could you spot the genius than? >> yes. stuart: could you spot the personality? is a problem personality? he has a hard time working with people and managing people. >> i never saw that. stuart: he wasn't tough with you? >> not at all. i was talking to steve was the act --woszniak. if you are a white hat you never saw a dark steve jobs. stuart: he was on the wrong side of the guy. stuart: and you are in trouble. >> very seldom saw bad steve jobs. stuart: you have a new book out and the title is? >> finding the next steve jobs. stuart: that is about finding people to run big corporations and start up corporations. >> and about the infrastructure, ecosystem, your company because

i believe a lot of companies have steve jobs working for them but their work product is ending up on the cutting room floor. stuart: i am microsoft shareholder so i am hoping you will find somebody to run microsoft and turn this around. >> i think they will do it. microsoft is too powerful and they need to be more innovative. stuart: genuine legend sitting on the set of "varney and company". good luck. speaking of technology, back to nicole petallides, it is let down again. there was car fire from one of these tesla models and down goes the stock. nicole: you are the automaker you don't want this to happen. you are an investor and shareholder and don't want this to happen. you drive a car you don't want to see this kind of video but the stock reacted dramatically, you saw the chart with a dramatic jump around the

3:00 p.m. hour, a video of the model on fire. no one could explain it. tesla came on with their own and said that was a model s the ran over a metal object and it was a one time thing and the person was given a life that said get out of a car and pull over and the person ignored that and ultimately got out of the car and was not injured. is a good story, the person is okay but doesn't help the stock. $200 price target from deutsche bank, a bad as the 187 part and goldman and jpmorgan. stuart: looking for an excuse to sell this thing. charles: their target, they were going to downgrade yesterday and have a target higher than it is now. people will buy at on weakness. stuart: with two weeks until the special election, the mayor of newark, new jersey leads the race to fill the senate spot of the late senator frank lautenberg but the margin is

closing between cory booker and his opponent, 13 points is the difference now. it was a bigger difference before. steve is here, welcome to the program. obvious question, you are a conservative republican. i am defining your ok with that? conservative republican. you try to tell me a conservative republican can get elected to the united states senate from the state of new jersey? >> can and will. republicans who have won statewide starting with tom canes senior, governor ran as a conservative republican in the reagan years and christie whitman who ran against jim florio as a conservative republican and won and chris christie who ran against well funded jon corzine, the mantle for the liberal movement and wanted to win again. new jersey is not the hopelessly liberal state people think it is. is rooted in conservative values i appeal to. stuart: you are a social

conservative and a fiscal conservative. >> yes i am with a proven track record in both areas. i was elected as mayor of the town hall wonderful community where i was raised as my wife and by were born and raised and it is a 2-1 democrat john but i won three times in a town that elected al gore, bill clinton, bob menendez, all democrats because i stood proudly on my conservative values and that resonated with the blue-collar union workers, white collar workers. stuart: i am trying to come to grips with this because i live in new jersey and live there for 30 years. i don't think it is a state which is amenable to a conservative fiscal conservative and social conservative. i don't think it is a message that resonates. >> the issue like chris christie won and we are the same on the issues and share those republican principles and there's a reason the gap is closing. stuart: jon corzine had an easy

target, jon corzine messed up. >> i had any easier target, the mayor of newark, new jersey who failed, tragically let down the city with an unemployment rate of 14% after hundreds of millions of tax dollars poured into corporate welfare programs and subsidies, a high school dropout rate that is a disgrace to 50%, of the most expensive school districts in america with a dropout rate of 50% and its violent crime spree, 10 people shot every day when disguising calif.. stuart: i live next to it. your move in the polls how much do you attribute to the fact that cory booker is starting to get it? the free pass media typically gives democrats, not calling him a hypocrite or whole lot of things, the track circuit you discuss coming out, surprising to me he is hitting the media. >> it shouldn't be. a miserable failure. he let down -- james was

indicted and went to jail and was a criminal, he was a better man than cory booker. and the numbers prove it. stuart: we appreciate your coming in today, you have an uphill struggle but very interesting to hear your side of the story and -- >> we are going to win and rock the country. stuart: if you won you rock the country. >> message to our friends in washington, hold the line until the sixteenth. when i win on the sixteenth the democrats will fold on the seventeenth and polk country should be watching. stuart: fascinating. new jersey republican conservative guy, thanks for joining us. we appreciate it. the wall street journal's dan henninger, one of the sharpest critics of the obama administration has a word for you about president obama's leadership and that word is catastrophic. after the break.

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stuart: the treasury releasing a report on the effect of the debt ceiling battle and what happens if we go over the deadline to the economy. rich edson with the headlines. >> tactics on the debt ceiling is to warn of catastrophe if congress has a fight over it, there could be a large adverse and persistent financial shock like the one that began in 2011 would result in a slower economy with less tiring and would otherwise be the case because of a prolonged debt ceiling fight. that is their push. they refuse to negotiate. stuart: it sounds to me like if the sky is falling if we even have a fight over the deadline have heard that before with the sequestered cuts but that is what it sounds like. i am not interested in your point of view so much as the details of the words they use. did they use the word catastrophic? >> they used the word catastrophic and what i read a couple seconds ago is the

wording of the report, six ages, different household spending and problems that reduced spending in 2011 because of a fight. not even talking about going over the debt ceiling but from any type of risk that we might go over the debt ceiling. stuart: rich edson, thank you very much. to the market we were down over a hundred points and now we were down 99, bad news on the service sector at the top of the hour. we did just that the official word that the jobs report will not be released tomorrow, a casualty of the government shutdown. this services setback looks like a big deal because the dow is down. stuart: sandra: in lower than the estimates for last year. stuart: anything to do with the shutdown? charles: nothing to do with the shutdown and they do have a component for employment and that was down 4% so month over month, and the anecdotal evidence without the release

tomorrow. stuart: we are joined by a leading critic of president obama, dan henning from the wall street journal. you say the president's fill you to offer any compromise, the stonewall i will not negotiate, is a flat-out failure of leadership? >> flat out abdication of presidential responsibility. we have got a situation where the democrats and republicans simply cannot agree on the budget and looks as though they won't be able to agree on the debt ceiling. being unable to agree on the debt ceiling is potentially catastrophic as we just heard. under those circumstances the responsibility of the president to charge the executive branch to intervene and try to work out a compromise between the two sides. they had this meeting at the white house. what came out of it? zero, nothing. if you did gone to a meeting in the white house like that with bill clinton or lbj you know they would have gotten in their face and said what do you want, what do you need and would push

towards a compromise. this president is incompetent to do that, doesn't know how to do it and more ominously i don't think he wants to do it. i think he is pushing the situation to a catastrophe which he can blame on republicans and take back the house in 2014. stuart: that is c.s. stuff. you think he wants a market meltdown? you think he wants it? >> i think he would accept a market meltdown and then he could blame that on republicans. that has been the strategy has been running since he entered the white house. everything that goes wrong gets blamed on a republican party for their opposition. i will tell you this. i am beginning to think that strategy has got to the diminishing returns. i think the american people of gotten tired of both him doing this and the congress being unable to compromise. it will start damaging the president. stuart: what evidence of that? the tide of public opinion is

turning from blaming the republicans all the time to putting a little bit of blame on the president. what is your evidence the tide is beginning to turn? >> before this began the polls were showing the president not only his general approval was declining but support for the republicans on handling of the economy and foreign affairs was rising. support started to move over into the republican column. the republicans are playing a dangerous game with ted cruz and mike leigh and house conservatives because of those independent lives in the center to drive these things one way or another decide the republican party can't be trusted their support should start to wane but both sides have a real kind of stake in where they end up in 2014 and that is the important date to watch. stuart: thank you very much, we appreciate you being with us. down 105 on the dow industrial average above 15,000 as we speak. world war ii veterans denied access to their own memorial in

d.c.. didn't matter, they went anyway. today democrats will vote to continue blocking our veterans. they will get in but long term can democrats say they're not going to getting? >> no end 2. like and they get together and do something? they are just fighting one another. >> this country isn't used to individuals shedding things down. we are used to lifting things up. [ male announcer ] need help keeping your digestive balance in sync?

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stuart: the dow at session lows,s on its plate, service sector not performing well and the treasury just said catastrophe if we even approach the debt ceiling limit with a fight. charles, they are not going to release the jobs numbers tomorrow, giving a negative at all? charles: a slight negative. the jobs, the labor to the department down with adp, that was abysmal, 166,000 doesn't bode well for the country. stuart: we are down 121, that is a down day but charles is here and will make us some money and has -- charles: got to give a shout out to steve, not:00 watches the show every day, 69 years old maid money with rite-aid and

those a of a maria, a good man. they and the service that speeds up data going across the country from the cloud, big-time manufacturing, q year last year but stock pulled back because of competition but they're releasing new products, a breakout at 4:00 -- stuart: they speed things up. world war ii veterans denied access to their own memorial yesterday, didn't stop them. the storm to the gate with help from members of congress. the national park service says veterans will not be barred from entering the site today but senate democrats will vote again to keep the memorial should down. 26 peer air force veteran congressman joins us from capitol hill. why can't you turn this into some much more positive public relations for republicans and against the president? this is a golden opportunity

than you are not taking it. >> we are trying to take it but as you know the mainstream media is not going to help us get that message out. even in 1995 when the last government shutdown president clinton did not shutdown the memorials and if you look at what is happening the administration is having to spend money to shutdown the memorials because they are normally not man, they are open air memorials. this is about fairness for all americans and this is not leadership. leadership is not holding the title or sitting in a big office. it is about producing results and this is the kind of mule headed thinking like him to washington to change. you would think they could solve these problems. stuart: there is going to the vote in the united states senate, a motion up for debate, let's reopen a the memorials, let's fund the park service and get rid of that element of the shutdown. senate democrats are going to say no, keep it shut down.

i am astonished by this, absolutely astonished this should be taking place in america today. >> i am astonished as well and it goes in line with the no vote that harry reid promised on reopening the national institutes of health and making sure critical clinical trials proceed that would help children for example that have been diagnosed with cancer and said so yesterday in a response to a cnn reporter, why would i do that? the reason you would do that is because you're responsible thing to do, that is what leaders do. we solve problems but that is not what you see from this administration. stuart: when your constituents know you as a military guy. they know you are at real about what happened at the memorial with the world war ii vet, was a saying to you? are they supporting the republican stand which says we want to delay obamacare for one year and we want piecemeal reopening of the government.

are behind you on that? >> let me say my constituents do not want the government to shut down and needed it ought but that is where we are but as for where we are right now absolutely, my constituents are asking me to hold firm. they are concerned about the health care law that is causing their insurance premiums to skyrocket, reducing access to their physicians. they are concerned about that but they want to reopen the federal government and they are appreciative of the work we have done. we put together multiple options to the administration that would begin reopening of the government but as you said as early as last night the president and every reid made it clear they are going to take their ball and go home. a won't talk about solutions. stuart: representative bill johnson, air force veteran, we appreciate you being with us, give our best to those world war ii that's. what cost more?

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stuart: just months after neurosurgeon dr. ben carson gave a speech that challenge the leadership of the president he was audited by the irs. agents requested to view his real-estate holdings and conducted a full audit, they found no wrongdoing on dr. ben carson. mr. quote, harsh restrictions on dzhokar tsarnaev, that is what lawyers of the boston marathon bombing suspect are asking for. get rid of those harsh restrictions. they are saying the current conditions by the alleged bomber left him isolated making it more difficult for him to communicate with his family and his legal team. all rise, judge andrew napolitano is here. can't work out which side of this you're going to be on because any inmate has their rights. judge napolitano: yes. first of all i have only read

dzhokar tsarnaev's lawyer's application because the government has not responded. they file that yesterday. the media picked up on it which is why many of us are discussing get some i haven't read the government's response but in their applications they make two points. when is he is in solitary confinement which is punitive particularly on person his age and he can't be punished for a crime for which he is innocent. he is innocent of the crime until proven guilty so he can't be treated as if he has already been found guilty and a legion of studies and supreme court opinions that characterized solitary confinement not as punishment for a prison related in fraction as punitive and his prison record is excellent. stuart: even more draconian. judge napolitano: the following rule. if he says something to his lawyers and send the lawyers to 1/3 person, dr. or professor or friend or custodian of records to address his mental state because his defense is always on autopilot and did what my brother told me to the

information given by those lawyers cannot be shared with somebody, not in the government and not on the defense team. that restriction makes their defense of him almost impossible if they can't approach witnesses to whom he will send them. what ises that are outside the jail. the courts have permitted those restrictions only if there's a likelihood that by sharing this information will cause violence inside the jail. there's no evidence of this whatsoever, no evidence he is part of a massive conspiracy additional authorities let in with the general population won't last 24 hours. judge napolitano: a more severe restriction is this impairment on the defense. the right to interview witness is is guaranteed by the sixth amendment. the governor is running the risk of losing a slam dunk. the evidence of his

participation in this conspiracy is overwhelming. you will certainly be convicted something, from conspiracy to capital murder or something in between. they run the risk of coming back and happily to bite them in the form of a reversal of conviction. they have to try the case over. as for solitary confinement there are gradations of release from solitary. he could attend prayer services with other people. this sounds like a knee-jerk squishy soft liberal and i am not in that camp but i am aware how this plays out at the back end. it plays out with mental impairment of somebody -- stuart: you could lose a slam-dunk case because you have not treated him in the way -- judge napolitano: what is otherwise a slam dunk conviction reversed because you entered with his ability to defend himself. stuart: a report found new york city's arison

inmate is more than $167,000. that was average annual cost. that is nearly as much, actually more than the cost of a four year tuition at an ivy league school. come on, why is it 167 -- list the reasons why it is 167. judge napolitano: incarcerating people in new york city is the most expensive incarceration anywhere in the united states, may be anywhere in the world. it is literally an island so there is the need to transport people under armed guard from weather being held to where they have to appear in court. there's the massive overpopulation of people in there for victimless crimes, possession of small amounts of marijuana or cocaine for personal use. they don't belong in any jail much less the most expensive jail in the country. stuart: you are walking the streets of new york city with a small amount of marijuana on you

it you are arrested. judge napolitano: that is the first -- stuart: can't get bailed out? judge napolitano: if you can't get bail you will save their. people have been there long time. stuart: listen to this. judge napolitano: people are waiting to go on trial, the time period they are waiting to go on trial is longer than the maximum sentence they could get if convicted at the trial. that is absurd, draconian, an american, unconstitutional and costly. stuart: the new york times said some of those delays are the instigation of the defense lawyer. they are deliberately delayed. judge napolitano: some of lamar because defense lawyers know if they drag this out, cops who arrested 50 people in one day, even ten people in one day a year later are not going to remember a given case and won't be able to testify. charles: you rather have time served.

judge napolitano: many people in that prison -- stuart: 30 seconds left and you have a personal story about going to the island, the kid that you saw. charles: you go in and they have these cafeteria tables and it is in a horse shoe and you wait and they come out and they're all about 21, 22, 99% black, hispanic and most for small-time things that the judge described and as you watch them walking you know for the most part their lives are ruined and maybe didn't have to be that way. the friends i went to visit had an alcohol problem but that is a different story. what i saw was really heartbreaking. stuart: we should not put people in prison for small amounts of marijuana. judge napolitano: total agreement with you. for the moral issue and the financial issue. stuart: good stuff, pleasure as

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stuart: some of us are not surprised the u.s. over taking russia as the world that leading producer of oil and natural gas according to data from the energy information administration. we produce twenty-two million barrels of oil and natural gas in july, it will produce a little less than that. starbucks says it will begin offering gift cards with braille wondering year round. first offered rail gift card in september of 2011 to commemorate disability awareness month. gift cards will have braille. ponzi scheme bernie madoff's new york city apartment on the market for $17,250,000. three years ago, sold by the government for $8 million.

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stuart: have you ever wanted to control and object without using any thing others then your mind. we have a cool gadgets on the set called puzzle box orbit. it is a helicopter that operates using an e d g headset helmut which monitors your brain waves allowing the device to be controlled by you.

just focus your mind. puzzle box chief is here. he is about to put the helmet on. you have got it on. that is, helmut i refused to where. is not so bad. i should have worn it. don't take it off. you are wearing a helmet, got a helicopter right here. make it fly. >> these are my brain waves right here. if i blink a few times you see the electromagnetic control. i am going to -- red is a measurement of my focus moment to moment. i will set a target and if i concentrate -- stuart: he is going to make this why no matter what. good thing i didn't wear the helmet. i'm interrupting his concentration. >> helicopter came find as long as i maintain that level of

focus and control. stuart: excuse me. you have to maintain a level of focus. you just think hard? >> any sustained concentration will make a helicopter fly. you can count backwards from 100 by 7s or translate to a foreign language. anything that put your mind and a steady train of thought we can measure. stuart: you have a little gizmo attached to your forehead, that is a sensor. >> were conscious paula occurs. stuart: picking up the brain waves, you are focusing those brain waves, it is transmitted to the helicopter which flies. that is incredible. is that a toy? >> it is but we also think of it as a tool. it will help you learn to focus your mind. there are therapists who use similar technology for adhd treatment. stuart: i read if you have a prosthetic arm, you can actually make your arm move by virtue of harnessing your own brain waves.

>> it is similar technology. most of those use existing pathways. say you have -- originally the nerve endings go to the end of the arm and they happen to those nerve endings that the arms so you don't have to relearn the new interface. stuart: is your technology relatively simple? easy to read your brain waves and your focus level? >> extremely. the science is 50 years old. just now it is cheap enough and plentiful enough to do the interesting things. stuart: is this on sale? 5 wanted to buy it, i? >> we sell it for $189. stuart: it is $189. that is it. how many have you sold? >> 2,000. stuart: is this a ploy for christmas? sorry to call on a toy, a tool. that is what you are in the business of doing. >> several more things are possible. you can write text messages slowly, a steer in multiple directions. if you have more electrodes you're looking at five figures

to do that and our goal is to bring that technology down. stuart: do you on the technology? >> yes. stuart: when you have the patent? >> no. we have a few patents pending but the basic technology is 50 years old so we are implementing it in a new way and is open source so it is like a scientific principle, putting everything out so people can build on it with us, trying to move an industry forward. stuart: that is fascinating. i am glad i did not have to focus my own brain waves because i'm not sure they are there. the big three news network's taking the un's climate report totally at face value. no questions, no challenges. we will deal with it next.

lou: coming up at 7:00, day iii of the government shutdown. bankers backing of a president. is that because they are watching what happens to the bank ceos who oppose the obama administration? whether you are talking dodd-frank or obamacare. find out here tonight at 7:00 eastern. stuart: the president is speaking in maryland talking about the shutdown of the

economy, we are monitoring what he has got to say so far nothing new. no negotiations. to charles, he has something on andrews air force base and its gulf course. charles: andrews air force base the golf course is open. we know the world war ii memorial is closed and they're putting up barricades to stop veterans from getting in. we know grocery stores at our lead bases are closed. why was this golf course open? all i can tell you is when the president is in town, nbc, of its favorite courses and he plays every saturday. stuart: pure coincidence. you know that. say it with conviction. the u.n. climate panel released a warning about catastrophic climate change on september 27th. it really got the attention of the big three broadcast networks that night. one even reporting a claim about temperatures rising more than 200 degrees. what is with that? not one of those networks

included any skeptical skepticism about the u.n. climate panel report. nothing. no skepticism. we didn't expect it. charles: but they all bought into this. journalism credentials when you -- we all been a certain way but at the core of our believe if we are going to be honest with the public is at least challenges even when you buy into something. who would say regurgitate 200 degrees temperature going to 200 degrees. who would say something that stupid? 1 degree over the next one hundred years two hundred? stuart: when your take on obamacare glitches next. ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪

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♪ so i can reach ally bank 24/7, but there ar24/7.branches? i'm sorry, i'm just really reluctant to try new things. really? what's wrong with trying new things? look! mommy's new vacuum! (cat screech) you feel that in your muscles? i do... drink water. it's a long story. well, not having branches let's us give you great rates and service. i'd like that. a new way to bank. a better way to save. ally bank. your money needs an ally. stuart: earlier i gave you my take on the obamacare glitches. we have been facing these now for three days. here is what you have to say.

ginger, what we have is a dictatorship and a congress unwilling to arrest the beast. plain and simple, obamacare is a transfer of wealth scheme. it is like growing a canoe with a hole in it during the perfect storm. what say you, charles? charles: it is a carefully thought-out policy. i think it is poor planning. i have a feeling that the federal government has more resources. stuart: i cannot imagine spending hours and hours trying to get into this. all right. that is it for us.

dagen: nothing is worse than that dmv. [laughter] dagen: note jobs report out on friday. is it really raising fears among investors? more on the tesla car fiie. facebook building its own town near its company headquarters. raising hell over what you wear to work. uptight employees are all fired up over casual fridays. connell mcshane is here with me this hour of "market now." ♪ connell: why have you started to add these awkward comments? i do